Ann: Cokal Takes Legal Action, page-22

Jimmy and Garry initially did the deal to accept $200,000 and $ 120,000 as 5 cent shares. A considerable sacrifice as the cash was their salary entitlement. Then due to pressure from shareholders or ASX, the Board forced Garry and Jimmy to further discount their wages and accept shares at 7 cents. This is about 50% discount on their wages.
So Karan, Domenic and Pat, time to follow this example that you set for your management team.
7 cent shares for whatever you are owed and for the next 2 years.
Bargain if you really believe in the company.